<article>Mitsui &amp; Co has acquired 44 per cent equity interest in Myanmar Power, a subsidiary of Singapore-based MAXpower Asia Group Pte Ltd (MAGPL)  for around $17 million. This investment makes Mitsui, the first Japanese company to invest in the Hermit Kingdom’s power sector.</article>

Mitsui &amp; Co has acquired 44 per cent equity interest in Myanmar Power, a subsidiary of Singapore-based MAXpower Asia Group Pte Ltd (MAGPL)  for around $17 million. This investment makes Mitsui, the first Japanese company to invest in the Hermit Kingdom’s power sector.
Myanmar Power operates a  a gas-fired generation plant consisting of 16 General Electric Jenbacher gas engine generator units with capacity totaling 50 MW in Yangon, and currently sells electricity to Myanmar Electric Power Enterprise (MEPE) under a power purchase agreement with a 30-year term.
MAXpower Asia (formerly known as Navigat Group) is PE-backed. In December 2013, it had got $25 million investment from Standard Chartered Private Equity (SCPE) and prior to that, it had got $58 millon from Standard Chartered IL&amp;FS Asia Infrastructure Growth Fund.
Mitsui also said it will pursue new power business opportunities in Myanmar. The Project strengthens the partnership between MGPL and Mitsui, and the companies intend to co-develop new distributed power business not only in Myanmar but in other countries in South East Asia that anticipate rapid growth in electricity demand, they said in a joint official statement.

Japan’s Mitshi acquires 44% in Myanmar Power

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Japan’s Mitshi acquires 44% in Myanmar Power

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